Binh Thuan Mineral was fined 170 million by the SSC. Causes of Binh Thuan Minerals did not disclose information and disclose information with inaccurate content.
On 15/9/2016, the State Securities Commission issued the decision on sanctioning administrative violations in the field of securities and securities market for Binh Thuan Mineral Industry Joint Stock Co (code: KSA) totaling 170 million VND Not disclose information and disclose information with inaccurate content.
Specifically, a fine of 85 million VND for not disclosing information in accordance with the law: Binh Thuan Minerals do not disclose information on the information disclosure system of the State Securities Commission, Ho Chi Minh City Stock Exchange (HSX) and the Company’s conclusion on the Company’s violation of tax law in 2015 (as recorded in the audited consolidated financial statement for 2015); Information on the signing of the Share Transfer Agreement with Quang Chau Datong Minerals JSC; Not to disclose on the Company’s website periodical information and abnormal information as prescribed.
A fine of 85 million VND for disclosing inaccurate information: Binh Thuan Minerals has announced information on “Titan-Zircon mineral ore mining in Phuoc Hai and Phu Hai Hai communes, An Hai district Ninh Phuoc district, Ninh Thuan province “in Official Letter No. 12/2016 / BC-KSA dated 27/4/2016 to the SSC, the HSX changed (adjusted) the plan to use the proceeds from the public offering of securities “The company has agreed and has acquired 792 hectares of tin ore with the capacity of more than 4 million tons in Ninh Thuan” in Official Letter No. 28/2016 / KSA dated 8/7/2016. SSC, HSX.
However, the Company has not signed a contract on the purchase of ore deposits which signed the agreement No. 01 / BBTT dated 17/3/2016 and the transfer of shares No. 01 / DQCL dated 19/5/2016 with the Company. Quang Binh Mineral Land Joint Stock Company has transferred 7.9 million shares to Binh Thuan Mineral (79% share) of Quang Ninh Mineral Resources JSC. Zircon mineral ore exploration area in Phuoc Hai commune, An Hai district, Ninh Phuoc district, Ninh Thuan province with an exploration area of 792 ha according to Decision No. 1283 / GP-BTNMT dated 30/6 / 2011 of the Ministry of Natural Resources and Environment).
The decision takes effect from the date of signing.
With 2 errors of not disclosing information and reports with inaccurate content, recently Hung Long Minerals Metallurgical and Mineral and Building Materials Company was fined up to 185 million, Hoa Binh is fined 200 million VND because of more aggravating circumstances.